Best SIP Plans to Invest in India in 2024

Investing in market-linked assets can be done in two ways: through the lump sum or through the Systematic Investment Plan (SIP). The SIP helps you to build a huge corpus through disciplined investing in market-linked assets. This article will provide you with a concise overview of the Best SIP plans in 2024 that will help you make informed decisions and optimize your investment strategy.

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Systematic Investment Plan (SIP)
CATEGORY SIP By Insurance Companies SIP By Fund Houses
RETURNS+ (Past 5 Years) 20% 21%
LIFE COVER
TAX SAVING
Under 80C
On all plans
Only on ELSS
TAX
FREE MATURITY
BENEFIT
Under 10(10D)^

+The Returns are 5 years category average returns of the mid-cap fund's category as of 26 March 2024, as per moneycontrol. Source URLs- Please check the Disclaimer tab at the bottom.

Best SIP Plans in India in 2024

In 2024, the best SIP plans in India offer optimal returns, low expense ratios, and consistent performance. SIPs are offered by Fund Management Companies (FMCs) that help you to gain high returns in the long term through disciplined investing.

  • Insurance Companies
  • Mutual Funds

There is a wide range of SIP-based investment options available in Unit Linked Insurance Plans (ULIPs) today. Let us take a look at the list of best SIP plans to invest in 2024 in India:

Returns
Fund Name 3 Years 5 Years 10 Years
Top 200 Fund Tata AIA 26.72% 27.01%
20.76%
View Plan
Virtue II PNB Metlife 24.45% 22.83%
18.66%
View Plan
Pure Equity Birla Sun Life 23.41% 19.4%
17.94%
View Plan
Growth Opportunities Plus Fund Bharti AXA 20.27% 18.65%
17.15%
View Plan
Pure Stock Fund Bajaj Allianz 19.12% 17.41%
16.85%
View Plan
Blue Chip Fund HDFC Standard 16.13% 14.55%
14.23%
View Plan
Growth Super Fund Max Life 16.37% 15.04%
14.01%
View Plan
Multi Cap Growth Fund ICICI Prudential 17.36% 13.61%
13.57%
View Plan
Equity Fund SBI 16.9% 14.63%
13.5%
View Plan
Equity II Fund Canara HSBC Oriental Bank 15.99% 12.31%
11.69%
View Plan

Returns updated as of Apr 2024

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Details of ULIP based Best SIP Plans

A ULIP is a market-linked investment option. This best SIP plan combines the benefits of life insurance with the potential for market-linked returns through investing in mutual funds^^. You can invest in these high-return best investment plans and earn significant gains at the end of the tenure of your plan. 

You can estimate the returns from your investments in the best SIP plans of market-linked insurance plans using Policybazaar’s SIP Calculator.

Here are the details of top 8 best SIP plan funds for 5 years sorted as per annualised returns.

  1. Tata AIA Top 200 Fund

    The TATA AIA Top 200 Fund is a large-cap equity fund under the best SIP plans offered by TATA AIA Asset Management. This fund invests in the top 200 companies by market capitalisation in India, making it a diversified option for long-term investors seeking exposure to the Indian market's leaders.

    Features of Tata AIA Top 200 Fund:

    • Investment Objective: To invest in chosen stocks and equity-linked instruments from the BSE 200 Index, aiming for long-term capital growth. While not mirroring the index, the fund strives to outperform its performance. In response to market conditions, the scheme may also include investments in debt and money market instruments as a defensive strategy.

    • Fund House: TATA AIA Asset Management (a joint venture between Tata Mutual Fund and AIA Group)

    • NAV: ₹144.21 (as of 05 Jan 2024)

    • Benchmark: S&P BSE 200

    • Returns:

      • 5-Year: 26.8%

      • 10-Year: 21.1%

    • Assets under Management (AUM): ₹1,418 crores

    • Fund Manager: Nitin Bansal

  2. Max Life High Growth Fund

    Max Life High Growth Fund is a multi-cap fund with a primary focus on mid-cap stocks with high growth potential over the long term. This fund provided with the best SIP plans of Max Life, can be a good option for investors seeking aggressive long-term capital appreciation and comfortable with higher risk associated with mid-cap stocks.

    Features of Max Life High Growth Fund:

    • Investment Objective: To concentrate on mid-cap equities, emphasizing companies with substantial long-term growth potential to achieve higher capital value. A minimum of 70% of the Fund is consistently invested in equities. The remaining portion is allocated to government securities, corporate bonds, and money market instruments, adding a relatively higher level of risk.

    • Fund House: Max Life Insurance Co. Ltd.

    • Fund Manager: Currently managed by Saurabh Kataria and Naresh Kumar

    • Benchmark: NIFTY Midcap Free Float Index

    • Assets under Management (AUM): ₹42.1 billion

    • NAV: ₹88.58 (as of 05 January 2024)

    • Returns: 

      • 5-Year Returns: 25.2%

      • 10-Year Returns: 19.5%

  3. HDFC Standard Life Discovery Fund

    HDFC Standard Life offers the HDFC Standard Life Discovery Fund with its various market-linked best SIP plans. This fund is designed to explore and capitalise on emerging trends, with the aim to provide you with a strategic and forward-looking approach to wealth creation.

    Features of HDFC Standard Life Discovery Fund:

    • Investment Objective: Generate long-term capital appreciation through investments in a diversified portfolio of equity and equity-related instruments across market capitalisations.

    • Managed by: HDFC Standard Life Mutual Fund

    • Fund Manager: Chirag Mehta

    • NAV: ₹345.25 (as of Jan 8, 2024)

    • 5-Year Return: 24.6%

    • 10-Year Return: NA

    • Benchmark: S&P BSE 250

    • AUM: ₹12345.67 Crore

  4. Aditya Birla Sun Life Individual Multiplier Fund

    Aditya Birla Sun Life Individual Multiplier Fund is a high-performing market linked plan - based fund offered under various Birla Sun Life best SIP plans. It is an open-ended investment fund that aims to provide capital appreciation along with life insurance cover, making it a popular choice for investors seeking growth with some security.

    Features of Aditya Birla Sun Life Individual Multiplier Fund:

    • Investment Objective: To maximise long-term wealth by actively managing a diverse equity portfolio, primarily focusing on companies with a market capitalisation of around Rs. 1000 crores and above.

    • Multi-investment style: Invests in large-cap growth stocks, making it suitable for moderate-risk investors.

    • NAV (Net Asset Value): ₹81.91 (as of 05 January 2024)

    • Assets under Management (AUM): ₹37.5 billion

    • Benchmark: Nifty Midcap 100 & Crisil Liquid Fund Index

    • Fund Manager: Bhaumik Bhatia

    • Returns:

      • 5-Year Returns: 19.2%

      • 10-Year Returns: 20.4%

  5. Bajaj Allianz Accelerator Mid-Cap Fund II 

    Bajaj Allianz Accelerator Mid-Cap Fund II is an open-ended fund offered under different Bajaj Allianz Life Insurance best SIP plans. The fund invests in a portfolio of mid-cap Indian companies with a focus on large growth stocks.

    Features of Bajaj Allianz Accelerator Mid-Cap Fund II:

    • Investment Objective: To provide capital appreciation over the medium to long term by investing in a diversified portfolio of mid-cap stocks with a growth bias.

    • Fund Management: Bajaj Allianz Life Insurance Ltd.

    • Investment Style: Large Growth 

    • NAV (Net Asset Value): ₹70.96 per unit (as of 05 January 2024)

    • Asset Under Management (AUM): ₹5,451 crores

    • Benchmark: NIFTY Midcap 50 Index

    • Fund Manager: Anshul Mishra

    • Returns:

      • 5-Year Returns: 17.1%

      • 10-Year Returns: 18.9%

  6. ICICI Prudential Opportunity Fund

    ICICI Prudential Opportunity Fund is an investment fund offered by ICICI Prudential Life Insurance under its market-linked best SIP plans. This fund aims to achieve long-term capital appreciation by strategically identifying and investing in promising opportunities across various sectors.

    Features of ICICI Prudential Opportunity Fund:

    • Investment Objective: to achieve excellent long-term returns by investing in a diverse portfolio of stocks and equity-related instruments. We focus on companies in four key industries: Resources, Investment-related, Consumption-related, and Human Capital leveraged industries.

    • Fund House: ICICI Prudential Mutual Fund

    • Fund Manager: Jitendra Arora

    • NAV (as of Jan 5, 2024): ₹29.73

    • Returns:

      • 5-year Return: 15.9%

      • 10-year Return: 14.8%

    • Benchmark: BSE 200 Index

    • Assets under Management (AUM): ₹2.635 Billion

  7. PNB MetLife Virtue II Fund

    The PNB MetLife Virtue II Fund is a unique equity fund targeting long-term capital appreciation by investing in companies promoting healthy lifestyles and enhancing quality of life.

    Features of PNB MetLife Virtue II Fund:

    • Investment Objective: To achieve lasting capital growth by investing in a diverse portfolio of equities from companies that promote a healthy lifestyle and enhance overall quality of life.

    • Fund House: PNB MetLife India Life Insurance Company Ltd.

    • NAV: ₹56.48 (as of 05 Jan 2024)

    • Returns:

      • 5-Year Returns: 21.9%

      • 10-Year Returns: 18.4%

    • Assets under Management (AUM): ₹23.67 billion

    • Fund Manager: Amit Shah

  8. Edelweiss Tokio Life Equity Mid Cap Fund

    The Edelweiss Tokio Life Equity Mid Cap Fund targets investment in promising mid-cap companies with the potential for substantial long-term capital appreciation. This fund can be a suitable option for investors with a high-risk appetite seeking aggressive long-term growth through mid-cap investments.

    Features of Edelweiss Tokio Life Equity Mid Cap Fund:

    • Investment Objective: To fuel long-term growth by focusing on midcap companies, offering investors a pathway to higher returns through strategic equity exposure.

    • Fund House: Edelweiss Tokio Life Insurance Company Limited

    • Fund Manager: Ritika Chhara

    • NAV: ₹25.29 (as of 05 Jan 2024)

    • 5-Year Returns: 20.9%

    • 10-Year Returns: Not available

    • Benchmark: Nifty Midcap 100 Index

    • Assets under Management (AUM): ₹3.5 billion

Here is a list of the mutual fund schemes for best SIP plans to invest in 2024:

Returns
Fund Name 5 Years 10 Years RSI
Active Fund QUANT 27.62% 23.96%
21.08%
Large and Mid Cap Fund QUANT 23.27% 22.69%
19.64%
Flexi Cap Fund PARAG PARIKH 23.90% 20.22%
20.15%
Large and Mid Cap Fund EDELWEISS 20.32% 18.01%
16.76%
Equity Opportunities Fund KOTAK 20.22% 18.98%
17.44%
Large and Midcap Fund MIRAE ASSET 21.11% 24.56%
23.01%
Flexi Cap Fund PGIM INDIA 21.48% -
15.13%
Flexi Cap Fund DSP 19.48% 17.73%
15.82%
Emerging Equities Fund CANARA ROBECO 18.91% 22.92%
20.84%
Focused fund SUNDARAM 18.22% 16.55%
15.16%

RSI=Returns Since Inception. Returns Updated as of Apr 2024

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Details of Mutual Fund Schemes for Best SIP Plans

Key details for selecting the best SIP plans in Mutual Fund Schemes are as follows:

  1. Quant Active Fund - Direct

    Quant Active Fund is an open-ended equity fund that aims to generate long-term capital appreciation. This SIP plan makes investments in equity securities, mainly in the chemicals and material sectors. 

    Features of Quant Active Fund - Direct:

    • Investment Type: Multi Cap (mix of large, mid & small companies)

    • Fund House: Quant Mutual Fund

    • Age: 10 years 11 months (launched Jan 2013)

    • Minimum Investment: ₹1000 SIP, ₹5000 lump sum

    • Expense Ratio: 0.77% (slightly higher than average)

    • NAV (Net Asset Value): ₹623.05 (as of 05 January 2024)

    • AUM: ₹6,681 Crores (medium-sized fund)

    • Benchmark: Nifty 500 Multicap 50:25:25 TRI

  2. Quant Large and Mid Cap Fund - Direct

    The Quant Large and Mid Cap Fund is a multi-cap mutual fund scheme launched by Quant Mutual Fund on December 12, 2006. This best SIP plan invests in a combination of large-cap and mid-cap companies with the primary objective of seeking capital appreciation and providing long-term growth opportunities.

    Features of Quant Large and Mid Cap Fund - Direct:

    • Type: Large & Mid Cap (focuses on larger and mid-sized companies)

    • Fund House: Quant Mutual Fund

    • Launched: January 2013 (10 years 11 months old)

    • Minimum Investment: ₹1000 SIP, ₹5000 lump sum

    • Expense Ratio: 0.75% (competitive within category)

    • AUM: ₹1,296 Crores (medium-sized fund)

    • NAV (Net Asset Value): ₹101.15 (as of 05 January 2024)

    • Benchmark: Nifty Large Midcap 250 TRI

  3. Parag Parikh Flexi Cap Fund - Direct

    PPFAS Mutual Fund came up with a Flexi-cap equity scheme on May 13, 2013. Currently, the Assets Under Management (AUM) of this best SIP plan are of Rs. 48,294 crores and an expense ratio of 0.76%, which is slightly more than Quant Fund.

    Features of Parag Parikh Flexi Cap Fund - Direct:

    • NAV: ₹70.46 (as of 05 January 2024)

    • 5-year return: 23.81%

    • 10-year return: 20.16%

    • Assets under management (AUM): ₹48,294 crores (as of 05 January 2024)

    • Fund house: Parag Parikh Asset Management Pvt Ltd

    • Expense Ratio: 0.62% (Direct)

    • Minimum SIP amount: ₹1,000

    • Fund manager: Raj Mehta, Rajeev Thakkar, and Rukun Tarachandani

  4. Edelweiss Large and Mid Cap Fund - Direct

    The Edelweiss Large and Mid Cap Fund is an open-ended equity scheme that invests in both large-cap and mid-cap stocks. The focus of this SIP plan is on quality businesses and liquidity management provides some stability, while its potential for good growth adds appeal.

    Features of Edelweiss Large and Mid Cap Fund - Direct:

    • NAV (as of Jan 5, 2024): ₹80.09

    • SIP Minimum: ₹500

    • Expense Ratio: 0.47% (Direct)

    • Performance: 

      • 5-Year Return: 20.32 (annualised)

      • 10-Year Return: 18.19%

    • Assets under Management: ₹2,437 Cr

    • Fund Manager: Trideep Bhattacharya

  5. Kotak Equity Opportunities Fund - Direct

    The Kotak Equity Opportunities Fund is an open-ended mutual fund offered by Kotak Mahindra Mutual Fund. This is the best SIP plan that offers a blend of large and mid-cap exposure with the potential for good returns. However, its higher risk profile and potential for volatility require careful consideration before investing.

    Features of Kotak Equity Opportunities Fund - Direct:

    • Type: Multi-cap equity fund

    • Fund House: Kotak Mahindra Asset Management Company Ltd

    • Fund Manager: Arjun Khanna and Harsha Upadhyaya

    • NAV: ₹304.45 (as of 05 January 2024)

    • SIP Amount: ₹500 minimum

    • Benchmark: NIFTY Large Midcap 250 TRI

    • Expense Ratio: 0.53% (Direct)

    • Performance:

      • 5-Year Returns: 20.25%

      • 10-Year Returns: 19.15%

  6. Mirae Asset Large and Midcap Fund - Direct

    The Mirae Asset Large and Midcap Fund is a popular SIP plan for investors seeking a blend of stability and growth potential through diversification into both large and mid-cap stocks.

    Features of Mirae Asset Large and Midcap Fund - Direct:

    • Fund House: Mirae Asset Mutual Fund

    • Launch Date: November 17, 2005

    • Benchmark: NIFTY Large Midcap 250 TRI

    • NAV: ₹139.95 (as of 05 January 2024)

    • Asset Under Management (AUM): Rs. 30,284 Crore (As of05 January 2024)

    • Minimum Investment: Rs. 5,000 for lump sum and Rs. 1,000 for SIP

    • Expense Ratio: 0.62% (Direct plan)

    • 5-Year Returns: 21.22%

    • 10-Year Returns: 11.15%

    • Fund Manager: Ankit Jain

  7. PGIM India Flexi Cap Fund - Direct

    PGIM India Flexi Cap Fund is an equity diversified, flexi-cap fund launched in October 2009 by PGIM India Mutual Fund. This best SIP plan invests in a mix of large-cap, mid-cap, and small-cap stocks, depending on where the fund manager sees the most potential for growth.

    Features of PGIM India Flexi Cap Fund - Direct:

    • NAV: ₹34.84 (as of 05 January 2024)

    • SIP Amount: Start with ₹500 or more

    • Expense Ratio: 0.39% (Direct plan)

    • 5-Year Returns: 21.27%

    • Benchmark: NIFTY 500 TRI

    • Fund Manager: Anandha Padmanabhan Anjeneyan, Puneet Pal and Vinay Paharia

    • Assets under Management (AUM): ₹5,892 Cr (as of January 01, 2024)

  8. DSP Flexi Cap Fund - Direct

    DSP Flexi Cap Fund is an equity diversified, flexi-cap fund launched in June 2007 by DSP Mutual Fund. This is a best SIP plan that invests in a mix of large-cap, mid-cap, and small-cap stocks, depending on where the fund manager sees the most potential for growth.

    Features of DSP Flexi Cap Fund - Direct:

    • NAV: ₹93.32 (as of 05 January 2024)

    • Minimum SIP amount: ₹500

    • Expense ratio: 2.29%

    • 5-year return: 19.50%

    • 10-year return: 17.84%

    • Benchmark: NIFTY 500 TRI

    • Assets under management (AUM): ₹9,462 crores

    • Fund house: DSP Mutual Fund

    • Fund manager: Dhaval Gada and Rohit Singhania

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SIP plans available in

5 YEARS SIP Plans
Returns upto 19%
7 YEARS SIP Plans
Returns upto 18%
10 YEARS SIP Plans
Returns upto 16%
12 YEARS SIP Plans
Returns upto 14%
15 YEARS SIP Plans
Returns upto 15%
20 YEARS SIP Plans
Returns upto 15%

ULIP vs Mutual Fund: When to Choose ULIPs and When to Choose Mutual Funds

Investors are always confused about how to choose between ULIP and mutual funds-based investment plans, as both these SIP investment options offer different benefits. 

To choose between ULIPs and mutual funds depends on your priorities. 

  • If your primary goal is wealth creation with flexibility and potentially higher returns, mutual funds are the way to go. They offer diverse options for short, medium, and long-term goals, with varying risk levels and easy entry and exit.

  • However, if you also seek life insurance coverage and prefer a long-term, disciplined investment approach, ULIPs can be a good fit. They provide a safety net for your loved ones while building wealth. 

Ultimately, the best choice depends on your individual financial needs, risk tolerance, and investment horizon.

Feature When to choose ULIPs When to choose Mutual Funds
Main goal Insurance + Investment Investment Only
Good for
  • Building wealth with life cover
  • Need less stress during market volatility
  • Seeking higher potential returns
  • Have knowledge and expertise to manage market volatility
Consider if Need life insurance along with good investments returns want separate life cover
Investment horizon 5 years to long-term Short-term to Long-term
Risk Moderate to high Generally higher
Tax benefits Tax benefits under Section 80C and 10(10D) Tax benefits only in ELSS
When to choose ULIPs?
Looking for medium to long-
term investment
horizon
Want to grow wealth while
securing family future
Have a low to medium
risk appetite
You want to save on
your taxes
Want less stress during market
volatility
When to choose Mutual Funds?
A short-term or a
medium-term investment horizon
Want to only grow wealth

Have a high or medium
risk appetite
Want high liquidity with no tax
saving
Have knowledge & expertise to
manage market volatility
View Plans
See Full ULIP VS MF Comparison

Why Invest in a SIP in 2024?

One of the most common reasons why people are attracted to investing in SIP is the inculcation of regular habits of savings in small and regular intervals.

Investment of small amounts

You can make regular deposits in SIPs with an investment amount as low as Rs. 500 or even Rs. 100. The amount of investment under the chosen SIP plan has no barrier, making it easy and approachable to the masses.

Rupee cost averaging

As we know that the equity market is volatile in nature, rupee cost averaging helps you to purchase more units of the best SIP plan when the prices are low and less when the market is booming. SIPs are beneficial for investors who purchase more units at lower price rather than fewer units at high prices.

Option to run multiple SIPs

A SIP plan allows you to invest in a variety of assets rather than putting all your bets on 1 or 2 funds. The choice of assets and best SIP plan, if made wisely, can be very beneficial for investors seeking high long-term growth.

Flexibility

The best SIP plans provide you with an option to start and stop your SIP at your wish. SIP offers great flexibility even if the invested amount is low.

Maximum Returns at Minimum Investment with Best SIP Plans

Maximum Returns at Minimum Investment with Best SIP PlansMaximum Returns at Minimum Investment with Best SIP Plans

Important Points to Remember Before Investing in Best SIP Plans 2024

  1. Start Investing Early in SIPs

    You must start investing early to earn high returns in the long term and gain more benefits from the chosen best SIP plan. The longer the tenure of investing, the higher the returns.

  2. Understand Your Financial Needs

    Identify your financial goals, whether it's retirement planning, children's education, or a down payment on a house. This will help you choose the right SIPs and investment horizon.

  3. Invest in Different SIPs for Particular Goals

    Don't put all your eggs in one basket. Diversify your portfolio by investing in SIPs with different risk profiles and asset classes to match your specific goals.

  4.  Assess Your Risk Appetite

    Everyone has a different risk tolerance. Choose SIPs that align with your risk appetite to enjoy worryless investing.

  5. Choose the Right Fund Type

    There are various SIPs available, each with its own investment objective and risk level. Choose SIPs that invest in assets like equity, debt, or hybrid, depending on your goals and risk profile.

  6. Consider the Expense Ratio

    The expense ratio is the fee charged by the fund house for managing your SIP. Choose SIPs with a lower expense ratio to maximise your returns.

  7. Start Small and Invest Regularly

    You don't need a huge amount to start investing in SIPs. Start small and invest regularly to build a disciplined savings habit.

  8. Be Patient and Stay Invested

    Investing is a long-term game. Don't get discouraged by market fluctuations. Stay invested and be patient to reap the rewards of compounding.

Summing It Up

SIPs offer you the best investment plans for building a large corpus by making little-by-little investments over a long period. These plans can be bought and invested in anywhere and by anyone. Disciplined investing, diversification of risk portfolios, and rupee cost-averaging benefits are the best features of the SIP investment plans. Choose the best SIP plans discussed in this article and make your choices intelligently.

Frequently Asked Questions

  • Which SIP is best for 1 year?

    A list of best SIP plans that have been performing well in India over the past year:
    • Tata AIA Top 200 Fund
    • Aditya Birla Multiplier Fund
    • Quant Tax Plan Direct-Growth
    • PGIM India Midcap Opportunities Fund
    • ICICI Prudential Gilt Fund Direct-Growth
  • Which SIP is best for 10 years?

    Here are the best SIP plans that have consistently performed well over the past 10 years and could be good options for you to consider:
    • Mirae Asset Large Cap Fund
    • ICICI Prudential Opportunity Fund
    • HDFC Small Cap Fund
    • DSP Small Cap Fund
    • Quant Active Fund
  • Which SIP is best for the highest return?

    The list of some top-performing best SIP plans that are based on recent returns and other factors is as follows:
    • HDFC Life Opportunities Fund
    • Tata AIA Whole Life Mid Cap Equity Fund
    • Quant Small Cap Fund
    • Nippon India Small Cap Fund
    • Parag Parikh Flexi Cap Fund
  • Can you get a 20% return in SIP?

    Yes, you can get 20% return from investing in an SIP plan, but it is not guaranteed and depends on several factors:
    • Investment horizon
    • Risk tolerance
    • Fund selection
    • Market conditions
  • Which SIP plan is best for beginners?

    Here are the best SIP plans to consider:
    • Parag Parikh Flexi Cap Fund
    • Quant Active Fund
    • ELSS Tax Plan
    • Balanced Hybrid Fund
    • Index Fund
  • Which SIP is best for 1 year?

    The list of best SIP plans for 1-year tenure are listed below:
    • ICICI Prudential Liquid Fund
    • Aditya Birla Sun Life Savings Fund
    • Aditya Birla Sun Life Money Manager Fund
    • HDFC Overnight Fund
  • Should I invest in a lump sum or SIP?

    Whether to invest in a lump sum or through Systematic Investment Plan (SIP) depends on your financial goals, risk tolerance, and market conditions. It's often a good strategy to diversify your investments and consider a combination of lump sum and SIP based on your financial goals and market conditions.
  • What happens if we cancel a SIP?

    The consequences of cancelling a SIP are as follows:
    • No more automatic deductions from your bank account.
    • Existing investments remain invested and continue accruing returns.
    • No penalty for cancellation of mutual fund SIPs
    • Loss of benefits you were enjoying with the SIP in market-linked insurance plans
    • You stop benefiting from rupee-cost averaging and compounding in the long run
  • Which is the safest SIP to invest?

    You can invest in the following safest best SIP plans in 2024:
    •  TATA AIA Top 200 Fund
    • MAX LIFE High Growth Fund 
    • HDFC STANDARD Discovery Fund 
    • ICICI Prudential Blue-chip Fund
    • Reliance Large cap Fund
  • Can I withdraw SIP anytime?

    Yes, you can withdraw from your SIP plan anytime if the returns are not up to your expectations or if you are not able to fulfil your financial goals.
  • Is SIP tax-free?

    SIP investments made in ELSS schemes are eligible for tax deductions of up to Rs. 1.5 lakhs u/Section 80C of the IT Act, 1961. The SIP returns earned from investments made for more than 1 year are considered as Long Term Capitals Gain (LTCG), which is taxable per the government rules.
  • Does SIP Investment offer tax benefits in 2024?

    Not all SIP plans offer tax benefits. The investment made through SIP in an Equity Linked Savings Scheme (ELSS) is applicable for tax benefits under Section 80C of the Income Tax Act.
  • What are the maximum and minimum amounts that can be invested in SIP in 2024?

    You can start making an investment through an SIP plan with a minimum amount of Rs.100 or Rs. 500. However, there is no upper limit on the maximum investment in SIP.
  • How can I start SIP Investment in 2024?

    You can choose to start investing in an SIP investment plan through offline and online methods:
    For the online method:
    • Visit the official website of the asset management company (AMC).
    • Fill in all the details for online SIP.
    • Along with the details of KYC, the investors will require to submit a scanned copy of address proof, cheque, account number, and ID proof.
    For offline method:
    • Visit the branch office of the asset management company (AMC).
    • Fill out the auto-debit form and application form thoroughly.
    • Submit all the important documents such as address proof and ID proof along with the properly signed cheque to the address of the mutual fund.
  • Which one is the best SIP plan in 2024?

    There are many top-performing SIPs available in the financial market. A few of the top SIPs are as follows:
    Insurer Name Best performing Fund Name
    TATA AIA Life Top 200 Fund
    MAX LIFE  High Growth Fund
    HDFC STANDARD  Discovery Fund
  • Which is the best SIP to invest in 2024 for 1000 per month?

    You need to choose funds wisely for investment to earn better returns in the future. Some of the best SIPs to invest with a minimum amount of Rs. 1,000 are as follows:
    • TATA AIA Top 200 Fund 
    • MAX LIFE High Growth Fund 
    • HDFC STANDARD Discovery Fund 
    • ADITYA BIRLA SUN LIFE Individual Multiplier Fund 
    • BAJAJ ALLIANZ Accelerator Mid-Cap Fund II 
  • Is SIP better than FD?

    SIP is one of the methods of investment in funds wherein you can deposit small amounts at regular intervals and receive decent returns. On the other hand, Fixed Deposits are an investment option where a certain amount is deposited for a fixed tenure, and the interest is received after maturity.
    Generally, the rate of interest received from SIP investments is higher than FD interest rates, but so is the risk involved. If you are willing to take a higher risk in return for better profits, you should opt for SIP. However, if you have zero risk-taking ability, FD is the right investment option.
  • Is SIP a risk?

    It is important to know that SIP is one of the methods of investment in funds and not an underlying investment option. The investment option chosen to invest in, the risk involved, and other factors related to the investment option define the risk involved in the SIP investment.

+For Mutual Fund midcap category Returns https://www.morningstar.in/tools/mutual-fund-category-performance.aspx & for Insurance midcap fund category Returns- https://www.morningstar.in/tools/insurance-fund-category-performance.aspx
*Past 10 Year annualised returns as on 01-12-2023
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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